Cryptocurrencies: Real Money or a Fad?

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2017 is the year of cryptocurrencies. Bitcoin jumped a few thousand dollars and broke records by breaking the $ 20,000 mark. Ethereum ether is higher than ever. New currencies are popping up every day and people are buying them frantically.

So, are these programming codes real money or a fashion that will die in time? Let's review:

SAVE MONEY

Have you ever sent money to someone through banking channels? Different banks have different protocols, but all have one thing in common: they charge you for it. Yes, you could say that your bank grants you a few fee transactions per month, but it imposes other restrictions when you are forced to pay for these particular services.

With digital currencies such as Bitcoin and Ethereum, you still have to pay to transfer money to someone, but the transaction "fees" you give to miners are far lower than traditional banks offer you.

WIN TIME

Sending cryptocurrency to someone living in any part of the world is as simple as writing an email. All you have to do is ask for the recipient's address, log into your wallet and send the desired amount. You can then do whatever you do in your daily life and the money will be transferred.

UNIVERSAL CURRENCY

OK, so the title is a bit misleading. There are tons of cryptocurrencies, so you and the recipient may not have the same currency wallet. If the receiver is flexible (and you have the power to convince), he or she can set up an electronic wallet for your currency in no time.

The most widely accepted currency is Bitcoin and if you have it you will not have any problem accepting different currencies.

INVESTMENT

With financial crises everywhere and the rate of inflation rising rapidly, you will one day find that all these dollars that you have saved do not have much purchasing power in a dozen years. The good thing is to invest them in something that will not depreciate over time. Enter the cryptocurrencies! Mainly because of the way these currencies are programmed, their circulation will be very limited, unlike paper money where you can just print more.

A simple case of supply and demand will always guarantee that cryptocurrencies will have an ever increasing value.

So you have it: cryptocurrencies are not a fashion in my opinion. All you have to do is figure out which one to buy.


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